A business operated at 100% of capacity during its first month, with the following results: Sales (96 units) $480,000 Production costs (120 units): Direct materials $60,000 Direct labor 15,000 Variable factory overhead 27,000 Fixed factory overhead 24,000 126,000 Operating expenses: Variable operating expenses Fixed operating expenses $6,290 3,960 10,250 What is the amount of the income from operations that would be reported on the variable costing income statement? Oa. $364,150 Ob. $469,750 Oc. $479,880 Od. $392,110